Corn futures are strongly higher at midday. Strength in soybeans and forecasts for hot, dry weather next week in Argentina are supportive factors. Argentina is the world's second largest corn exporter and their crop has been stressed by drought conditions. March is 9 3/4 cents higher at $3.75 and May is 9 1/2 cents higher at $3.85 3/4.



Soybean futures are trading higher at midsession. Strong demand for soybeans from China and forecasts for more stressful crop weather in Argentina next week are bullish factors. USDA reported new sales of 116,000 tonnes to China and 125,000 tonnes to an "unknown destination", which is likely China. March is 14 3/4 cents higher at $10.09 1/4 and May is 14 3/4 cents higher at $10.18.



Wheat futures are trading strongly higher at midday. Futures are being supported by spillover from soybeans and corn and concern that some of the winter wheat crop may have been damaged by the recent cold snap. Weakness in the dollar index is beneficial for U.S. wheat exports, which have been slow recently. CBOT March is 10 1/4 cents higher at $5.79, KCBT March is 14 1/2 cents higher at $6.09 and MGE March is 12 1/4 cents higher at $6.54.



Cattle futures are trading higher at midsession. Supportive factors include expectations for the cash market to trade firm today, further strength in boxed beef prices on Thursday, and weakness in the dollar index. Gains are being limited as traders wait to see how the cash market actually unfolds. February is 15 cents higher at $84.50 and April is 50 cents higher at $87.80.



Lean hog futures are mostly higher at midday. Pork cutouts have been moving lower this week and packer margins are poor. However, cold weather is limiting hog movement and is supporting some cash markets. Weakness in the dollar and strength in the stock market are supportive factors. February is 13 cents higher at $59.95 and April is 45 cents higher at $66.30.